Maine Medical Education Foundation
- Assets
- $4.8m
- Revenue
- $127.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Manchester, ME
- Founding
- 03/1963
- Data as of
- 12/2021
- EIN
- 01-6017053
Organization Overview
Maine Medical Education Foundation is located in Manchester, ME. The organization was established in 1963. According to its NTEE Classification (E99) the organization is classified as: Health Care N.E.C., under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Medical Education Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Maine Medical Education Foundation generated $127.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $134.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO GRANT LOANS TO PROMISING STUDENTS OF MEDICINE AND FOR THE PURPOSE OF MEDICAL EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL STUDENT LOAN GRANTING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael L Parker MD Treasurer | OfficerTrustee | 1 | $0 |
Paul Cain MD Board Chair | OfficerTrustee | 1 | $0 |
Erik Steele DO President-El | OfficerTrustee | 1 | $0 |
Jeffrey Barkin MD President | OfficerTrustee | 1 | $0 |
Andrew Maclean CEO | Officer | 1 | $0 |
Kenji Saito MD JD Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,949 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,949 |
| Total Program Service Revenue | $83,168 |
| Investment income | $29,009 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$75,154 |
| Net Gain/Loss on Asset Sales | $71,908 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $127,636 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,899 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $35 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $134,624 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,671 |
| Savings and temporary cash investments | $207,785 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $87,768 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,857,390 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,873 |
| Net Land, buildings, and equipment | $271,336 |
| Investments—publicly traded securities | $1,343,566 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,801,389 |
| Accounts payable and accrued expenses | $98,177 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $98,177 |
| Net assets without donor restrictions | $4,703,212 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,801,389 |
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|---|---|---|
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Exeter Med Real Inc Exeter, NH | $48,444,143 | $7,175,126 |
Graniteone Health Manchester, NH | $1,202,880 | $8,160,739 |
Amistad Portland, ME | $577,709 | $2,429,831 |
New Hampshire Childrens Health Foundation Concord, NH | $26,766,436 | $331,723 |
Island Commons Resource Center Chebeague Island, ME | $1,773,833 | $1,346,250 |
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New England Rural Health Roundtable Newfield, ME | $244,533 | $248,216 |
Friends Of Rockingham County Aging Adults Inc Windham, NH | $476,498 | $162,294 |